Scammers create bogus cryptocurrency investment platforms, offering fast loans and hefty profits. Once users sign up, scammers pose as customer service to direct them to fake loan sites for more fraud.
New to blockchain, Kim was lured by a high-yield investment tweet promising substantial profits from small investments. Visiting the platform's website, he encountered a range of investment projects endorsed by major parties, all touting high returns and easy procedures. They claimed token deposits would lead to asset appreciation following project guidelines.
Attracted by the high returns, Kim registered on the platform but found the project's investment amount had a minimum threshold exceeding his assets. Upon inquiry, customer service suggested increasing funds through authorized loans from a specific wallet brand. Contacting them via Telegram, Kim was directed to a loan link. The service claimed it was an official USDT loan with a 2% commission fee, unlocking the investment opportunity.
The customer service provided Kim with a loan document, stating that the funds had been transferred to his platform account. Upon verifying the increase in funds, Kim's trust in the platform grew. The customer service then instructed him to transfer 2% of the loan amount in RMB from his bank account to a designated bank account provided by them as a commission fee. Kim could subsequently use the loan tokens for investments, with real-time investment income displayed in his account.
After a while, Kim tried to withdraw the proceeds to his personal wallet, but failed and there was no transfer record on the chain. The platform customer service initially asked him to wait due to congestion on the chain, and then stopped responding. Kim contacted the wallet official to verify the authenticity of the loan documents, only to find out that it was a scam. The wallet had never provided loan services and the documents were purely forged. At this point, Kim realized that he had been scammed and had lost the commission fees he paid.
PSA：
- Before investing or taking out a loan, be sure to carefully verify the authenticity of the platform and never trust strangers.
- Be wary of investment promotions that claim high returns with low risks, as they often signal scams. Investors should exercise prudence and avoid being swayed by excessively enticing promises.
- Before investing, research the project thoroughly, including its operating model, team qualifications, and risk factors, to accurately assess reliability and potential risks.
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In addition, if you find a token or DApp that is suspected of being risky, please promptly report it to us: support@token.im to help more users avoid asset losses.
Closing Thoughts
With scams continually evolving, it is indeed challenging for average users to fully prevent them. imToken is committed to rapidly detecting issues and finding solutions, providing timely messages to the community, and educating users about various types of scams to protect them from losses.
We encourage you to read and share imToken Wallet Security Monthly Report and join hands with imToken to safeguard your token security.